Seven of India’s largest banks have joined a Blockchain-powered trade finance initiative led by Indian IT giant InfoSys, a press release announced May 16. The collective, known as India Trade Connect, includes institutions such as Axis Bank, ICICI and South Indian Bank. It was reportedly formed to conduct testing of...
Peer-to-peer payments platform Circle Internet Financial Ltd., is pursuing both a federal banking license with the Office of the Comptroller of the Currency (OCC) and registration as a brokerage and trading venue with the US Securities and Exchange Commission (SEC). The news comes from a Bloomberg report today, June...
European leaders seem to have finally come to a consensus that the innovative technology underlying crypto-assets “has the potential to improve efficiency and inclusiveness of the financial system and economy more broadly,” as emphasized at the G20 summit in Argentina in March 2018. However, when it comes to regulation, the...
Bangkok Bank has become the latest institution to join a trade finance initiative from R3 and TradeIX. ...
Dutch financial group ING (INGA.AS) has confirmed that Bitfinex, one of the world’s largest Bitcoin exchanges by daily trading volume, has a bank account with them in the Netherlands, Reuters reported Tuesday, Feb. 20. In an email to Reuters, ING spokesperson Harold Reusken confirmed that Bitfinex has a bank account...
Anthony Lewis, research director at global banking consortium and enterprise software firm R3, predicted that a central bank issued digital currency (CBDC) will be implemented in 2018 in a panel discussion at Deconomy in South Korea April 4. “For wholesale use (of CBDC), I think we are looking at this...
Texas regulators have issued an unconditional cease and desist order to the self-described ‘cryptocurrency bank’ AriseBank on Friday, Jan. 26, ordering it to halt any services to the state’s residents. In a formal press release Friday, the Texas Banking Commissioner Charles G. Cooper implied the business, which has generated considerable...
Canadian lending institution Bank of Montreal (BMO) banned its customers from buying Bitcoin in a move seemingly confirmed March 28. A screenshot uploaded to Reddit by an employee seemingly shows a staff bulletin announcing the bank would “block” all credit, debit and online payments to cryptocurrency exchanges. The reason, the bulletin...
Banco Bilbao Vizcaya Argentaria (BBVA) became the first global bank to issue a loan using Blockchain technology, FT reports April 25. The Spanish multinational bank said it conducted the entire loan process, from the negotiation of terms to the signing, on a mutually distributed ledger that informed both the bank...
China’s central bank realized the first of what will likely be many Blockchain implementations in the form of the Blockchain Registry Open Platform (BROP), released Monday, March 26. Unveiled at the Global Financial Science and Technology Summit in the city of Hangzhou, BROP is an open Blockchain protocol developed by...